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S&P Global Ratings revised Axis Bank Limited's stand-alone credit profile (SCAP) and its rating outlook. The SCAP was revised upward to 'bbb' from 'bbb-', and the rating outlook was revised from 'stable' to 'positive'. S&P Global Ratings also affirmed the Bank's long-term rating at 'BBB-' and short-term rating at 'A-3'.
| Date | 5 Jun 2024 |
| Time | 07:00:03 |
| Category | Miscellaneous |
| ID | 1900R |
AXIS/CO/CS/146/2024-25
May 29, 2024
Dear Sir/Madam,
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SUB: |
RATING ACTION BY S&P GLOBAL RATINGS |
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REF: |
REGULATION 30 AND 51 READ WITH SCHEDULE III OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
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This is to inform you that the credit rating agency S&P Global Ratings has revised upward its assessment of Axis Bank Limited's (the "Bank") stand-alone credit profile (SCAP) to 'bbb' from 'bbb-'. The long term and short-term ratings for the Bank have been affirmed at 'BBB-' and 'A-3', respectively.
The rating outlook has also been revised from 'stable' to 'positive'.
The rating action letter received from S&P Global Ratings is attached herewith.
http://www.rns-pdf.londonstockexchange.com/rns/1900R_1-2024-6-5.pdf
This is for your information and records.
Thanking you.
Yours faithfully,
For Axis Bank Limited
Sandeep Poddar
Company Secretary
Encl.: As above